Barnes & Noble announced that it has entered into agreements with Microsoft providing for the termination of the commercial agreement between Microsoft and NOOK Media and the acquisition by Barnes & Noble of Microsoft’s preferred interest in NOOK Media for approximately $62.4 million in cash and approximately 2.7 million shares of Barnes & Noble common stock. Cravath represented Barnes & Noble in connection with this transaction. More >>

Davis Polk advised underwriters represented by Citigroup Global Markets Inc., Daiwa Capital Markets Europe Limited, Morgan Stanley & Co. International plc and TD Securities (USA) LLC in connection with the offering of $1 billion aggregate principal amount of 1.625% U.S. dollar bonds due 2019, issued by Export Development Canada. More >>

Willkie client Level 3 Communications, Inc. completed its $600 million Rule 144A offering of aggregate principal amount of its 5.75% Senior Notes due 2022 to qualified institutional buyers. Based in Bloomfield, Colorado, Level 3 is a Fortune 500 company that provides local, national and global communications services to enterprise, government and carrier customers. More >>

The Firm is representing Blackstone Real Estate Partners VI and VII in connection with the sale of its wholly-owned U.S. industrial platform, IndCor Properties (“IndCor”), to affiliates of GIC, Singapore’s sovereign wealth fund, for $8.1 billion. IndCor owns and operates a portfolio of 117 million square feet of high-quality industrial properties in key markets throughout the United States. IndCor’s assets are principally located in desirable in-fill industrial markets, which benefit from proximity to key domestic and global transportation hubs, major logistics and warehouse/distribution networks, as well as large population concentrations. Over the past several years, the Firm has represented Blackstone and IndCor in more than 15 separate transactions as IndCor grew to be one of the largest industrial real estate companies in the United States. The transaction is expected to close in the first quarter of 2015. More >>

The Firm represented La Quinta Holdings Inc. in connection with a $460 million secondary offering, consisting of 23,000,000 shares of common stock (including 3,000,000 shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares) at a public offering price of $20.00 per share. More >>

Shearman & Sterling advised the underwriters of Cardinal Health, Inc.’s public offering of $450,000,000 2.400% Notes due 2019, $400,000,000 3.500% Notes due 2024, and $350,000,000 4.500% Notes due 2044. Deutsche Bank Securities Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC. acted as joint bookrunning managers for the offering. More >>

Hunton & Williams LLP successfully represented Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI), and a group of commercial banks on a $4.369 billion senior secured project debt finance, letter of credit and working capital facilities to finance the construction and operation of Train 1 of a multi-train natural gas liquefaction and export facilities project to be located on Quintana Island near Freeport, Texas. More >>

Paul Hastings LLP, a leading global law firm, represented Gruma, S.A.B. de C.V., the world’s largest tortilla and corn flour producer in its US$400 million international bond offering and the redemption of likely the only corporate perpetual bond ever issued in Mexico. The offering involved the issuance of US$400 million of 4.875% Senior Notes due 2024. The proceeds from the sale of the notes will go principally to redeem the perpetual bonds issued ten years ago at an interest rate of 7.75%. The notes were issued pursuant to Rule 144A and Regulation S in a more than seven times oversubscribed offering. The managing underwriters involved were Goldman, Sachs & Co. and Santander Investment Securities Inc. More >>